Common use of Calculation of Value Clause in Contracts

Calculation of Value. For data, studies and reports, which are not supported by any standard test protocols or for which a market price is not applicable, the party supplying should provide a document justifying the costs, including the expenses and/or the time required (overview of the process steps, working days, costs per working day), including: development of study concept, exploratory studies, carrying out of the study, analyses, expenses for further contractors, administrative costs (see below). is assessed as follows: - in general, for standard tests and Studies, by referring to the present-day cost of such a study, by reference to a list of typical study costs. - for non-standard tests and Studies and reports, or where it can be demonstrated that a specific non-standard cost is applicable, either the real price of the work (updated by inflation) or a justified estimate of current day costs, will be used, as indicated above.